A slowing global economy couple with a stronger currency has exports from South Africa slowing.
Comments »Monthly Archives: June 2012
Asian Markets Sink on Poor China Manufacturing Data
“Stocks dropped and commodities declined to the lowest level since November 2010 as reports on manufacturing in Europe and China signaled output is shrinking and the Federal Reserve cut growth estimates. U.S. index futures erased declines, while Spanish bonds rose after an auction.
The MSCI All-Country World Index fell 0.2 percent at 7:33 a.m. in New York. Standard & Poor’s 500 Index futures rose less than 0.1 percent, after dropping as much as 0.6 percent. Chinese stocks sank to the lowest level since March. Spain’s two-year yield slipped 24 basis points to 4.78 percent. The euro depreciated 0.1 percent to $1.2691. The S&P GSCI gauge of 24 commodities is down more than 20 percent from the closing high in February, the common definition of a bear market. Oil earlier fell below $80 a barrel for the first time in eight months.”
Comments »The Euro Weakens After Service and Manufacturing Data Declines
“The euro snapped two days of gains against the dollar as a report showed euro-area services and manufacturing output contracted in June, adding to signs Europe’s debt crisis is blunting economic growth.
New Zealand’s dollar strengthened after a report showed the nation’s economy grew at the fastest pace in five years last quarter. A composite index based on a survey of purchasing managers in services and manufacturing in the 17-nation euro area was below the 50 level that separates contraction from expansion for a fifth month.”
Comments »Spanish Medium Term Note Yields Rise While the Ten Year Remains Flat
“Spain’s government bonds climbed for a third day as the nation sold 2.2 billion euros ($2.8 billion) of debt due in in five years or less, exceeding the maximum target for the auction.
Five-year Spanish yields headed for their biggest three-day drop since December and Italian securities advanced amid speculation euro-area leaders will deploy their bailout facilities to buy government bonds. German bunds were little changed as a report showed euro-area services and manufacturing contracted for a fifth month in June.”
Comments »Asian Markets Trade Down While European Markets and U.S. Futures Reach Higher
Alex Jones: Big Brother is Watching…Your DVR
FLASH: US and EUROPEAN FUTURES ARE TRACKING LOWER
Technology Has Lower P/E Ratio Than Utilities
Bespoke is out with an interesting study:
Only two other times have we seen Utilities have a higher P/E than Technology. One period came in late 2008 during the financial crisis and the other came during last summer’s version of the Euro-crisis.
See the graph and read the rest of their analysis here.
Comments »Ex-Orioles Player Eddie Murray is Part of Insider Trading Inquiry
How come all of the great ball players for which I have rookie cards seem to wind up in a scandal?
Federal prosecutors and securities regulators are trying to determine whether Murray, a star slugger for the Baltimore Orioles, traded on inside information that Abbott Laboratories was about to announce a deal in January 2009 to acquire Advanced Medical Optics for $2.8 billion, the sources said.
Read the rest here.
Comments »90 Million Workers Won’t Be Needed By 2020, Study Says
The McKinsey Global Institute is estimating that 2.6% of the global population will be vulnerable to permanent joblessness. How can this be prevented?
Read the article here.
Comments »Forget QE3, the Fed Might Have Something Better
June 20, 2012 3:41 PM EDT
With even unconventional Fed tools showing little fruitfulness, Fed watchers should take heed that Bernanke & Co. are evaluating a new program that can help breath life into the stagnant U.S. economy courtesy of our friends across the pond.
Last week, in a joint move, the Bank of England and the Treasury there surprised markets with a ‘funding-for-lending’ program. While little details are available, the program will provide funding to banks over several years at rates below current market
rates. Money can be lent against “the widest range of collateral.” The program is expected to be structured to ensure that the banks then pass the lower costs to customers and boost the overall economy.
READ THE REST HERE
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Bernanke Says Fed Will Not Buy European Sovereign Debt
via @Reuters on Twitter
Comments »FLASH: MUBARAK’S LAWYER SAYS ZOMBIE HOSNI WILL RISE IN 3-4 DAYS
Hosni Mubarak’s lawyer tells NBC News he is in the military hospital on a respirator, will make a full recovery in 3-4 days
via BreakingNews.com
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Industry Breadth
Today’s Hybrid Movers
Click here for charts.
Comments »“Scientific Experts” Dispute Link Between 9/11 WTC Dust and Cancer
NEW YORK — Call it compassionate, even political. But … scientific? Several experts say there’s no hard evidence to support the federal government’s declaration this month that 50 kinds of cancer could be caused by exposure to World Trade Center dust.
READ THE REST HERE AT MSNBC.COM
Comments »Windows Phone’s Wallet App to Support Credit & Loyalty Cards, Deals, NFC Payments
…
at the Windows Phone event, Microsoft announced the wallet feature that will be a part of Windows Phone 8. The wallet will support both credit and debit cards, and loyalty and membership cards.
Also supported will be saved deals, with third-party integration built-in, to allow for other services, such as frequent flier miles and other sorts of information.
NFC will also be baked in, bringing that technology to the Windows Phone line around the world. Orange, the carrier, is Microsoft’s lead carrier partner for this product.
Critically, Microsoft intoned on stage, its product is safe, and unlike products from Apple and Google, is end to end. Apple does loyalty, and Google does payments, but Microsoft does both.
READ THE REST HERE AT THENEXTWEB.COM
Comments »Real Time Analysis of the Fed Committee Statement
ETF Corner
Inflows: IWM, EWZ, IEI, XME, IWP, IYT, GLD, TIP
Outflows: IWB, UPRO, IHE, IWQ, DBE, TQQQ,
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